AppFolio (NASDAQ:APPF) Shares Down 5% Following Insider Selling

AppFolio, Inc. (NASDAQ:APPF) dropped 5% during trading on Friday following insider selling activity. The stock traded as low as $245.00 and last traded at $246.11. Approximately 68,665 shares were traded during trading, a decline of 77% from the average daily volume of 300,091 shares. The stock had previously closed at $259.07.

Specifically, insider Matthew S. Mazza sold 2,131 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $249.46, for a total value of $531,599.26. Following the completion of the transaction, the insider now owns 43,680 shares in the company, valued at $10,896,412.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Matthew S. Mazza sold 2,131 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $249.46, for a total transaction of $531,599.26. Following the completion of the transaction, the insider now directly owns 43,680 shares of the company’s stock, valued at $10,896,412.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 2,600 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $229.65, for a total transaction of $597,090.00. Following the completion of the transaction, the insider now owns 52,400 shares in the company, valued at $12,033,660. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,444 shares of company stock worth $31,124,559. Insiders own 9.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on APPF shares. JPMorgan Chase & Co. upped their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday. KeyCorp lifted their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Piper Sandler increased their price objective on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods raised their price objective on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $267.13.

AppFolio Stock Down 1.9 %

The business’s 50-day simple moving average is $242.72 and its two-hundred day simple moving average is $230.34. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 125.16 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The firm had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. On average, analysts expect that AppFolio, Inc. will post 2.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of APPF. GAMMA Investing LLC raised its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after buying an additional 112 shares during the period. CWM LLC raised its stake in shares of AppFolio by 238.6% in the second quarter. CWM LLC now owns 149 shares of the software maker’s stock valued at $36,000 after acquiring an additional 105 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. USA Financial Formulas purchased a new stake in AppFolio during the 4th quarter worth about $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of AppFolio during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.